Myers Industries Q4 Profit Tops Estimates; Net Sales Up 28% On Organic Basis

(RTTNews) - Myers Industries, Inc. (MYE) reported that its fourth quarter adjusted earnings per share increased 109% to $0.23, compared to $0.11, a year ago. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.21, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA increased 55% to $17.6 million.

Net income increased to $7.25 million from $2.99 million, prior year. Net income per share increased 150% to $0.20.

Net sales increased 45% to $199.6 million, from $137.5 million, a year ago. On an organic basis, net sales for the fourth quarter increased 28%. Analysts on average had estimated $189.03 million in revenue.

For fiscal 2022, the company estimates: EPS in the range of $1.18 to $1.38; and adjusted EPS in the range of $1.20 to $1.40. Net sales growth is estimated in the high single digit to low double digit range, with approximately one quarter of the increase due to the acquisition of Trilogy Plastics.